Collateral Consumer Credit Repossession 
FFGN COLLECT NY
JULY 12, 2024
Proposed changes regarding the removal and reporting of medical debt may lead you to change how you do business if you rely on credit reports when deciding whether to grant credit, In June, the Consumer Financial Protection Bureau (CFPB) proposed some major changes related to the reporting of medical debt and consumer credit reports.
Collection Industry News
JUNE 10, 2024
In 2022, the three largest credit bureaus — TransUnion, Equifax and Experian — started removing paid medical debts from consumers’ credit reports. FICO® and Vantage Score, the two major credit scoring companies, have also decreased the degree to which medical bills impact credit scores.
Collection Industry News
JANUARY 25, 2025
NEW YORK (AP) Lenders will no longer be able to consider unpaid medical bills as a credit history factor when they evaluate potential borrowers in the U.S. Removing medical debts from consumer credit reportsis expected to increase the credit scores of millions of families by an average of 20 points, the bureau said.
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